The Cigna Group (NYSE:CI) Stake Lifted by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC increased its stake in shares of The Cigna Group (NYSE:CI) by 13.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,986 shares of the health services provider’s stock after acquiring an additional 362 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in The Cigna Group were worth $824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Collier Financial bought a new position in shares of The Cigna Group in the fourth quarter worth $32,000. ORG Wealth Partners LLC bought a new position in shares of The Cigna Group in the fourth quarter worth $34,000. Prospera Private Wealth LLC bought a new position in shares of The Cigna Group in the third quarter worth $37,000. Compagnie Lombard Odier SCmA bought a new position in shares of The Cigna Group in the fourth quarter worth $37,000. Finally, Heck Capital Advisors LLC bought a new position in shares of The Cigna Group in the fourth quarter worth $53,000. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Stock Up 1.9 %

Shares of The Cigna Group stock opened at $321.48 on Monday. The stock has a 50-day moving average price of $292.84 and a 200 day moving average price of $317.54. The company has a market cap of $87.98 billion, a P/E ratio of 26.26, a P/E/G ratio of 0.98 and a beta of 0.53. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same period in the previous year, the company earned $6.79 earnings per share. As a group, analysts expect that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a $1.51 dividend. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 1.88%. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s dividend payout ratio is currently 49.35%.

Insider Buying and Selling

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the transaction, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at $39,367,568.04. This represents a 17.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the transaction, the insider now directly owns 29,421 shares in the company, valued at approximately $9,065,198.52. The trade was a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CI. Oppenheimer decreased their price target on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. StockNews.com raised The Cigna Group from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Royal Bank of Canada set a $355.00 target price on The Cigna Group in a research note on Friday, January 31st. Stephens decreased their target price on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Cantor Fitzgerald decreased their target price on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $372.31.

About The Cigna Group

The Cigna Group, together with its subsidiaries, provides insurance and related products and services in the United States. Its Evernorth Health Services segment provides a range of coordinated and point solution health services, including pharmacy benefits, home delivery pharmacy, specialty pharmacy, distribution, and care delivery and management solutions to health plans, employers, government organizations, and health care providers.